Major U.S. Market Indexes Down on Global Growth Worries
Adviser Investments’ Chief Investment Officer Jim Lowell has the market analysis for Friday, March 22. All major U.S. market indexes declined on renewed concerns about a global growth slowdown and potential recession. The Dow Jones Industrial Average, S&P 500 and NASDAQ fell 1.8%, 1.9% and 2.5%, respectively. Investors reacted to the release of weak manufacturing data in Europe’s Purchasing Managers Index as well as the yield spread between 3-month and 10-year Treasury bonds briefly inverting early Friday.